PROVIDENCE, R.I. (WPRI) — There may be a major shakeup in President Joe Biden’s cabinet following November’s midterm elections.

Treasury Secretary Janet Yellen is expected to depart the White House following the elections, according to a new MarketWatch report.

The report suggests that Commerce Secretary and former Rhode Island Governor Gina Raimondo is “a leading contender to replace Yellen.”

“She is seen as one of the stars of the White House Cabinet,” research analyst Ben Koltun told MarketWatch.

Raimondo returned to the Ocean State Friday evening to headline a fundraiser for Brett Smiley, who served as director of administration when she was governor and is a Providence mayoral candidate.

She declined to comment on the MarketWatch report when 12 News approached her after the fundraising event.

Raimondo resigned from her role as governor last March, two months after Biden nominated her to join his administration. She is the first Rhode Island politician to be elevated to the president’s cabinet in more than 70 years.